In one city, 3,546 people attended a concert but in another city, 9,238 people attended the same band's concert. Estimate how ma
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Answer:
True
Step-by-step explanation:
The least total cost method is the method in which the total cost of the ordering cost and the total carrying cost is equal among various lot size available.
The order quantity should be choose when the total ordering cost and the total carrying cost equal to each other
The formula to compute the economic order quantity is shown below:
a. The computation of the economic order quantity is shown below:
It is always be expressed in units
The formula to compute the ordering cost is
And, the formula to compute the carrying cost is
Hence, the given statement is true